Tuesday, January 10, 2017

Members in the News: Williams, Hurt, Dobbins, and Zhang

Wendong Zhang, Iowa State University

Farmland Value Continues Slide
By Iowa Public Radio - December 13, 2017
Cropland in the Midwest is losing its value as the downturn in the agriculture economy continues, according to a number of surveys by agricultural economists. Record-high crop prices contributed to record-high land values in 2012 and 2013, but now, that party is over.

"Now what we have is [an] overproduction, oversupply issue," says Wendong Zhang, an Iowa State University economist.

Read the entire article on the Iowa Public Radio

Brian Williams, Mississippi State University

Agriculture value is part of Mississippi’s economy
By Mississippi Business Journal - January 4, 2017
The estimated $7.6 billion value of Mississippi agriculture increased by 1.8 percent in 2016, helping the industry retain its prominence in the state’s overall economy.

“Agriculture’s reach in the state goes well beyond just the value of the goods produced,” said Brian Williams, an agricultural economist with the Mississippi State University Extension Service. “The ag industry helps support many of our small towns across the state, as producers purchase inputs at the local co-op, buy new vehicles at the local car dealer or hire a local accountant to help with taxes.”

“When all the extra economic impact of agriculture is taken into account, the total economic impact of agriculture to the state of Mississippi is actually much more than the $7.6 billion worth of agricultural products that are produced,” he said.

Read the entire article on the Mississippi Business Journal

Member in the NewsChris Hurt & Craig Dobbins, Purdue University

Purdue: Ind. Crops, Farmland Values Set To Decrease In 2017
By Eagle Country 99.3 fm - January 4, 2017

“In the last three years, U.S. production has outpaced usage for corn, soybeans and wheat,” says Chris Hurt, editor of the Purdue Agricultural Economics Report. “Market prices in the next few years will be in the process of adjusting acreage to cause increases in corn and wheat prices, but at the expense of more soybean acres and lower bean prices.”

“The primary force behind the farmland value decline has been the decline in crop production profitability,” Dobbins said. “While there are several positive forces in the farmland market, these positive factors are overridden by low farm commodity prices and low contribution margins.”

Read the entire article on the Eagle Country 99.3 fm

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